US stocks: Nasdaq ends down as chipmakers fall and bank earnings roll in

In a recent trading session, the Nasdaq index took a hit as chip stocks continued their downward spiral, amid diverging results from major banks like Citigroup and Goldman Sachs. The PHLX chip index faced a substantial decline, sparking fears surrounding competition in this sector. Despite the turbulence, analysts express optimism about future earnings linked to AI-driven innovations.

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